Intrinsic Value Partners LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Intrinsic Value Partners LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 50,488 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet comprises about 9.7% of Intrinsic Value Partners LLC’s portfolio, making the stock its 2nd largest holding. Intrinsic Value Partners LLC’s holdings in Alphabet were worth $9,615,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Weiss Asset Management LP bought a new position in Alphabet in the 3rd quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Maryland Capital Advisors Inc. raised its position in Alphabet by 33.0% during the 4th quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock valued at $51,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $185.67 on Wednesday. The company has a market cap of $2.27 trillion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The stock’s fifty day moving average price is $194.56 and its 200 day moving average price is $176.81. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Analyst Ratings Changes

Several brokerages have recently commented on GOOG. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,029 shares of company stock valued at $12,625,003 in the last ninety days. Insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.